|
OFFICE OF FOREIGN ASSETS
CONTROL (OFAC)
Course Description: Office of Foreign Assets Control (OFAC) requirements deals with every
account relationship and transaction that the bank offers to its
customers. This course centers on the OFAC regulations designed to
impose economic sanctions against certain designated countries, what
transactions are involved, and how to handle suspicious
transactions. OFAC terminology is also included.
Audience:
Bank personnel who have deposit or lending responsibilities.
Learning Objectives:
After completing this course, students will be able to:
-
Describe the purpose of OFAC
-
Describe the purpose and use of the Specialty
Designated Nationals and Blocked Persons List
-
Explain what to do when there is a match name
-
Identify the reports that must be made
Credit:
ICB: 1.25
Delivery Methods
|
